Debt, Money, Problem, Stress, 3000
2007-08-22 06:46:22 · 4 answers · asked by Josh M 1 in Business & Finance ➔ Personal Finance
yes and it is not to early to downsize -- don't charge any thing else and get rit of everything that is not needed until you are out of debt and have 6 months living expenses in a liquid account!!!
2007-08-25 09:27:09 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No, $3000 isn't a huge amount of money, especially for someone with no job.
But, now that you are starting work, you really need to draw up a budget and stick to it so that the $3000 doesn't grow to $30,000 in a few years. Plan on paying off all that debt over time, and then building up savings.
2007-08-22 06:51:49 · answer #2 · answered by El Jefe 7 · 0⤊ 0⤋
I owe 60X times that (education loans) and I am living in Manhattan. It can be done. You just have to figure out things that are not necessary. You probably don't need a phone line if you have good cell service, etc.
If you want to make sure you don't spend the money you need to make your debt payments, open a savings account. Each month deposit what is needed to pay for the debt into that account. Then make pretend you don't have that anymore. Use that account solely for debt. Plus you'll earn some pocket change in the process.
2007-08-22 06:52:33 · answer #3 · answered by Jason B 2 · 0⤊ 0⤋
Yes, you should stress about it, if only a little bit. $3k is not huge in the grand scheme of things, but it could be huge if you only make, like, $300/mo. Focus on clearing your debt and once you have it down to $0, then either learn to use credit appropriately (only using what you can pay completely off in any given month) or do not use it if you think you will abuse it (ie. letting the balance run up and not being able to pay it completely off).
2007-08-22 07:07:31 · answer #4 · answered by aiownk 2 · 0⤊ 0⤋